frosti85 ERE journal.

Where are you and where are you going?
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Frosti85
Posts: 16
Joined: Thu May 11, 2017 3:27 am

frosti85 ERE journal.

Post by Frosti85 » Thu May 18, 2017 6:14 am

Hello.

Short introduction:

I'm a 32 year old male living in Austria (Vienna), and I'm a software engineer.

Was living a heavy consumerist lifestyle until end of 2015. Was very depressed & alone.

Met my now-girlfriend end of 2015, she introduced me to the concept of ERE.

Realized how stupid I was, and all of that flushing money down the toilet didn't make me happy at all.

Realized my real interest are science & reading, not mindless consumerism.


Now here is my ERE plan:

Current net worth is 20000€
I can get my expenses down to 1000€/month (to get it lower I would have to move, but I will consider this)
My income is 36000€ / year (after taxes)

So I can save ~24000€ per year.

My target is that I can live from passive income when I become 40. (might have to cut expenses even more to achieve this)

If that fails I will try to get a 10-20 hour job.

I want to go to university and study physics (or chemistry) (university is free in austria), and not depend on a job.
I'm strongly convinced that scientific progress is the best way to save the world, and I want to contribute to it.

In Austria we have a government guaranteed pension, and also a very good social security net, but I dont want to include that in my ERE plan.
(but I might be more aggresive with my investments)

Jason
Posts: 187
Joined: Mon Jan 30, 2017 8:37 am

Re: frosti85 ERE journal.

Post by Jason » Thu May 18, 2017 3:53 pm

Your post got me thinking of something.

In Christianity, you have the notion of conversation which consists of mortification (death to sin) and vivification (new life in Christ). Its a literal turning from death to life. You literally stop going in one direction, and turn around and go in another direction.

I think I need to apply that to ERE. Like you said, you were going in one direction (consumerism) and then you met an ERE chick and she turned you around and now you are going in another direction (reading, studying, saving the world etc.)

Its the same principal. It involves a radical conversion which implies not only a death and new life but a change in direction. Today I received an envelope and I said I can re-use this envelope. I would never thought that before. Although I just dropped 5k on shiny appliances so that kind of refutes everything I'm saying and sucks the life out of my credibility, not that I really have any around here to begin with. But you hopefully get my point.

Anyways, good luck.

MDFIRE2024
Posts: 56
Joined: Fri Jan 06, 2017 5:09 pm

Re: frosti85 ERE journal.

Post by MDFIRE2024 » Thu May 18, 2017 11:13 pm

Hi Frosti.

I guess some weeks ago another Austrian from Vienna started a Journal. Also nice to have you here.
Looking forward to hear from your steps towards ERE.
I live in Germany and have a similar story and background. Have you already thought about cutting expenses even more?
What I have learned after the first year of extreme ERE is balance. Balance between favourit lifestyle, ERE and financial goals.

Frosti85
Posts: 16
Joined: Thu May 11, 2017 3:27 am

Re: frosti85 ERE journal.

Post by Frosti85 » Mon May 22, 2017 2:47 am

First ERE mission: get rid of the car.

I live in a suburb of Vienna, right now my route to work is:

10 minutes car ride to train station
15 minute train
10 minute subway

The car costs ~ 80€ per month with gas costs included.
so there is huge saving potential here.

I should be able to sell it for 3000-4000€

then I have the option of either taking the bus or walking / cycling to the train station.

After reading "your money or your life" I was thinking about the walking option in a completely new way:

- bus costs 30€/month and is 15 minutes in one direction.
(+5-10 minutes of idle time waiting for it)

- walking costs nothing, and is 25 minutes, and has health benefits as well.

This will be the first week with me only using the walking option :)

Riding a bike is also a good option, but I dont really trust myself when I'm tired in the morning not to kill myself (had a car accident once because of me driving tired and losing concentration)... so I'm not sure about that.

Frosti85
Posts: 16
Joined: Thu May 11, 2017 3:27 am

Re: frosti85 ERE journal.

Post by Frosti85 » Mon May 22, 2017 2:48 am

MDFIRE2024 wrote:
Thu May 18, 2017 11:13 pm
Hi Frosti.

I guess some weeks ago another Austrian from Vienna started a Journal. Also nice to have you here.
Looking forward to hear from your steps towards ERE.
I live in Germany and have a similar story and background. Have you already thought about cutting expenses even more?
What I have learned after the first year of extreme ERE is balance. Balance between favourit lifestyle, ERE and financial goals.
The first major cut will be getting rid of my car (see post above)

Then the next step I will do in 1-2 years is move closer to work and save ~100-200€ on rent / month.

JollyScot
Posts: 22
Joined: Thu Feb 26, 2015 3:44 am

Re: frosti85 ERE journal.

Post by JollyScot » Mon May 22, 2017 5:24 am

Hey Frosti, how is Vienna to live in. I remember back when I was thinking of moving from the UK the first time that I really enjoyed the city. I was only there a few days so not sure if it was just tourist goggles (probably was).

Frosti85
Posts: 16
Joined: Thu May 11, 2017 3:27 am

Re: frosti85 ERE journal.

Post by Frosti85 » Mon May 22, 2017 6:39 am

@Jolly: according to mercer there is no better city in the world to live in:
https://en.wikipedia.org/wiki/Mercer_Qu ... ing_Survey

My personal opinion: it's great and also very good for ERE.

crime rate is extremly low. you can walk around at night in the entire city without fear.
public transport is excellent, for 1€ per day you have access to the entire transportation system.
lot of parks and outdoor areas. so you dont need at car which is very helpful for ERE


only disadvantage: rent costs increased a lot in the last 5-10 years. it's still manageable but if you want to do ERE on an average income it's probably a good idea to share an apparment with other people

disadvantage related to austria: we have some of the highest tax rates in the world. 45% of my gross income is taxed.
but health care is free and we have a huge social safety net... so hard to evaluate this.

MDFIRE2024
Posts: 56
Joined: Fri Jan 06, 2017 5:09 pm

Re: frosti85 ERE journal.

Post by MDFIRE2024 » Mon May 22, 2017 2:18 pm

Frosti85 wrote:
Mon May 22, 2017 2:47 am
First ERE mission: get rid of the car.

I live in a suburb of Vienna, right now my route to work is:

10 minutes car ride to train station
15 minute train
10 minute subway

The car costs ~ 80€ per month with gas costs included.
Very good idea in my opinion. I've done the same in the last year and it saved me at least 200 € per month. I ride my bicycle to work. Each day 45 Minutes one way. Don't forget to calculate service, bying, repair, tax, insurance ... costs. I didn't regret my decision and so will you, I guess.

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